Wise Group (NASDAQ:WSE) CTO Sells $497,307.00 in Stock

Key Points

• Wise Group CTO Harsh Sinha sold 42,324 shares at an average price of $11.75, generating $497,307. The sale covered tax-withholding obligations tied to vested equity awards and reduced his direct ownership by 4.14% to 979,030 shares.
• WSE shares traded at $10.95, near the lower end of their 52-week range of $10.36 to $17.47. The company recently reported quarterly EPS of $0.12 on revenue of $576.48 million.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $16.94 price target, despite ratings ranging from “sell” to “strong buy.”

Wise Group plc (NASDAQ:WSE - Get Free Report) CTO Harsh Sinha sold 42,324 shares of the company's stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $11.75, for a total transaction of $497,307.00. Following the completion of the sale, the chief technology officer directly owned 979,030 shares of the company's stock, valued at $11,503,602.50. This represents a 4.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Wise Group Stock Performance

Shares of WSE stock traded down $0.03 during trading hours on Monday, hitting $10.95. The company had a trading volume of 3,117,050 shares, compared to its average volume of 2,275,641. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.07. Wise Group plc has a fifty-two week low of $10.36 and a fifty-two week high of $17.47. The business's fifty day moving average is $12.18.

Wise Group (NASDAQ:WSE - Get Free Report) last announced its earnings results on Thursday, June 25th. The company reported $0.12 EPS for the quarter. The firm had revenue of $576.48 million for the quarter. As a group, equities research analysts predict that Wise Group plc will post 0.56 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on WSE shares. Barclays raised shares of Wise Group to a "strong-buy" rating in a report on Tuesday, July 7th. Wall Street Zen cut Wise Group from a "hold" rating to a "sell" rating in a research report on Saturday. Morgan Stanley assumed coverage on shares of Wise Group in a research report on Monday, June 29th. They issued an "equal weight" rating and a $16.10 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of Wise Group from $17.30 to $17.70 and gave the company an "overweight" rating in a report on Friday. Finally, Canaccord Genuity Group assumed coverage on Wise Group in a research report on Wednesday, September 2nd. They set a "buy" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.94.

Institutional Trading of Wise Group

Institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. acquired a new position in shares of Wise Group in the 2nd quarter valued at about $49,000. Versant Capital Management Inc acquired a new stake in Wise Group during the 3rd quarter valued at approximately $114,000. Two Sigma Securities LLC acquired a new stake in Wise Group in the second quarter valued at $125,000. Resolute Advisors LLC acquired a new position in Wise Group in the second quarter worth about $192,000. Finally, jvl associates llc bought a new stake in shares of Wise Group in the 3rd quarter valued at approximately $230,000.

About Wise Group

Wise Group PLC is a technology company. Its product offering includes Wise Account, Wise Business and Wise Platform. Wise Account is its solution for people with cross-border financial needs. Wise Business offers product along with business-specific functionalities designed to enable business customers. Wise Platform provide financial services for banks, financial institutions and enterprises. Wise Group PLC is based in LONDON, United Kingdom.

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